Category: Finance & Grants
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Shares and shareholders
Selling shares in your company is one way of raising long-term finance for your business. This is also known as equity finance. The advantage of equity finance is that you don’t always have to repay the finance or pay interest, as you would with an overdraft or bank loan. Shares in a company represent ownership.…
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Understanding European banking services
If you are a business based in the UK aiming to set up a business elsewhere in Europe, you need to know how commercial banks operate in Europe. You also need to know how business banking services differ from those offered by the majority of UK commercial banks. Since many major European banks have an…
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Foreign currency and exchange risks
If your business exports or imports goods or services, you need to consider how you will protect yourself against changes in the exchange rate. Even a tiny variation in the rate could cost your business thousands of pounds. You’ll also need to decide how to make and receive payments in foreign currencies. This guide is aimed at…
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Using payment cards to buy and sell goods or services
Using payment cards – such as credit or debit cards – can provide many benefits for your business. As a buyer, they offer a range of alternative ways of paying for goods or services instead of using cash or cheques. And, as a seller, accepting these cards could help you sell more and reach new…
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Debit and credit cards for your business
Making purchases with plastic cards is a convenient and flexible option for many businesses. The different types of card available – from debit, credit and charge cards to specialist purchasing cards – mean small-business owners don’t have to carry large amounts of cash or a company chequebook. Staff purchases can also be effectively managed through the use…
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How to wind up a company that owes you money
Companies go into compulsory liquidation when they become insolvent – that is, unable to pay their debts, or with assets worth less than their debts – and no arrangement has been agreed with creditors. If an insolvent company owes you money, you can ask the court to make a compulsory winding-up order against it. Generally,…
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Make someone who owes you money bankrupt
Before you take any action to petition to make someone bankrupt, you should get your own legal or financial advice about bankruptcy and the other options available to you. One source of information is The Insolvency Service, which is the government agency responsible for dealing with financial failure and misconduct. The agency provides general information on…
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Owed money from a bankrupt or a company in liquidation
This guide is aimed at businesses who are owed money by an individual in bankruptcy or company in compulsory liquidation. It gives information about who deals with bankruptcy and compulsory liquidation cases, and how to ensure you are registered as a creditor. It gives advice on making a claim and how the available money (if…
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Recover your debt through court: Possession Claim Online
Possession Claim Online (PCOL) is an official service provided by HM Courts & Tribunals Service designed to help individuals and businesses make or respond to certain types of claims for recovering property via the internet. Using PCOL can save businesses time and money as claims are issued, and payments can be accepted, electronically. Also you…
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Recover your debt through court: Money Claim Online
Money Claim Online (MCOL) is an official service provided by HM Courts & Tribunals Service (HMC&TS) designed to help individuals and businesses make or respond to certain types of claims for recovering debts via the internet. MCOL can help you if someone owes you money and you wish to start or continue a claim against them,…
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Formal requests for payment: statutory demands
A statutory demand is a written request for payment of a debt. If the demand is not met, the creditor may follow up with a petition for a bankruptcy order for personal debts, including debts incurred as a sole trader or when trading in partnership with someone else, or a winding-up order for debts of…